KB Financial opens asset management hub in North Jeolla, chairman pledges to support balanced national development

KB Financial Group on Wednesday opened the Jeonbuk KB Financial Town, a specialized asset management hub developed in partnership with North Jeolla Special Self-Governing Province and the National Pension Service.

The opening comes roughly six months after KB Financial announced plans in January to build the complex within the Jeonbuk Innovation City. The group had earlier signed an MOU with North Jeolla Province and the National Pension Service to cooperate in developing the region into a global asset management hub.

The Jeonbuk KB Financial Town will serve as a regional financial base supporting the growth of youth entrepreneurs, small and medium-sized enterprises and innovative companies. About 350 KB Financial employees — including roughly 150 locally hired staff — are set to be permanently based at the Jeonbuk Innovation City site.

Key subsidiaries including KB Kookmin Bank, KB Securities, KB Insurance and KB Asset Management have moved into the complex, forming a comprehensive financial hub. KB Asset Management's Jeonju office and KB Securities' Jeonju CIB Center will lead the asset management-focused ecosystem.

To give residents and businesses convenient access to comprehensive financial services, KB Financial will operate a bank-securities combined branch, a senior-focused KB Golden Life Center, a KB Hope Finance Center supporting the economic recovery of low-income and vulnerable groups, and an AI-based non-face-to-face asset management consultation center.

To support small businesses and youth startups, the group will expand subsidiary collaboration and investment linkages centered on KB Innovation Hub, a startup incubation platform. The plan is to build a virtuous growth ecosystem that continuously generates new industries and jobs while actively backing innovative companies.

KB Financial also plans to make new investments in a climate tech venture fund tied to North Jeolla's strengths in climate, energy and agri-biotech, with the aim of promoting the founding and growth of promising companies in areas such as carbon reduction and smart agriculture.

The group will also pursue a range of social contribution projects for local small business owners and expand its education infrastructure to develop future financial talent. Collaboration with the National Pension Service is being planned on multiple fronts. A lecture series titled "NPS X KB Golden Life Golden Class in Jeonju" ran Tuesday and Wednesday, and scholarship support linked to the "NPS Open Campus" program is also in the works.

The opening ceremony at the Jeonbuk Innovation City was attended by Minister of Land, Infrastructure and Transport Kim Yun-deok, North Jeolla Governor Lee Won-taek, National Pension Service Chairman Kim Seong-ju, Jeonju Mayor Jo Ji-hun and KB Financial Group Chairman Yang Jong-hee.

"The Jeonbuk KB Financial Town is the starting point of an asset management-specialized financial ecosystem where finance, industry and the region grow together," Yang said. "We will continue to expand finance's role in creating an environment where young people, small businesses and innovative companies can find ample opportunities and grow locally, and in contributing to regional economic vitalization and balanced national development."